Apollon Wealth Management LLC Has $5.75 Million Position in Intuit Inc. (NASDAQ:INTU)

Apollon Wealth Management LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 65.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,191 shares of the software maker’s stock after buying an additional 3,639 shares during the quarter. Apollon Wealth Management LLC’s holdings in Intuit were worth $5,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Parnassus Investments LLC increased its holdings in Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP raised its position in Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares in the last quarter. Fisher Asset Management LLC boosted its position in Intuit by 9.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after acquiring an additional 270,414 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. KeyCorp raised their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Wells Fargo & Company increased their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Susquehanna boosted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Finally, Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $5.37 during trading on Monday, reaching $634.64. 802,874 shares of the stock were exchanged, compared to its average volume of 1,237,341. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The stock has a 50-day moving average price of $636.97 and a 200-day moving average price of $607.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $177.70 billion, a PE ratio of 64.76, a PEG ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.